Its just amazing how the big boys broke the gold bank

Bear

They all got together, investment companies, and various National Feder Reserve

Banks and they all sold a billion dollars worth of precious metals that never existed

and sold it into a market to be bought by people who never inted to take possession

of the non existent metals thus cracking the upward spiral of the metals market. When the short

begin to cover, there will be a significant recovery. Tis a game for the hardy and nimble who possess

brass balls and nerves of steel.

Tonelover

Yep, it's all a big conspiracy designed to keep the man down.

CaptHenway

I forget....do the gold gnomes fly the black helicopters or the white helicopters??????

curly

Let's all cut the crap. Weren't we all trying to make a killing? I've seen a lot of gold fever on this forum lately. A lot of posters have spent the last year forcasting $2000 gold. Now we want to cry because we were the last ones holding the hot potato.

Thats my take on it anyway

HonoluluDude

<< <i>Yep, it's all a big conspiracy designed to keep the man down. >>



I always thought it was the "Man" that kept us little people down.

roadrunner

This was one 20-25% correction (at least so far). And this has been somewhat normal for gold since 1980 following upward moves. While it is distressing to some, 20% corrections are more the norm than not. Unfortunately it's often hard to get out of the way when they occur. Hence the need to buy on the dips and wait the rise.

The biggest correction in the 1970's gold bull came in 1974 and dropped gold 50% (from $200 to $100). That probably sent many former gold bugs packing. It languished for almost 2 years...and set up the final move from $100 to $500 (when few were expecting it), and then finally from $500 to $850.

Bear, I think the hedge funds bailing got this moving and the CB's and bullion banks just piled on finally sensing an opportunity to turn gold, something they had been unable to do since $575. Right now it has taken the market back to it's 50 day moving average. The 200 day MA has much more room above it before one could declare the gold bull dead.

roadrunner

fc

bear,

i am quite dumb when it comes to finances.

are you talking about "options"?

i had to travel over to wikipedia to brush up on the lingo.
your post will only make sense if i try to figure out what you mean.

i am trying to determine if you are crazy or not

I read about Leeson over at Barrings. poor guy.
Orange County CA went bankrupt.
Some fund here in the US went down the tubes. it got
bailed out by the fed bank of NY. they feared a chain reaction
of selling.

--------below is more for me, then you smart people here-------
In finance, an option is a contract whereby one party (the holder or buyer) has the right but not the obligation to exercise a feature of the contract (the option) on or before a future date (the exercise date or expiry). The other party (the writer or seller) has the obligation to honour the specified feature of the contract. Since the option gives the buyer a right and the seller an obligation, the buyer has received something of value. The amount the buyer pays the seller for the option is called the option premium.

Most often the term "option" refers to a type of derivative which gives the holder of the option the right but not the obligation to purchase (a "call option") or sell (a "put option") a specified amount of a security within a specified time span. (Specific features of options on securities differ by the type of the underlying instrument involved.)

Options are usually traded on a futures exchange
------

so who had the short positions?